DA eyes rice import ban extension until year-end – BusinessWorld Online
The Department of Agriculture (DA) is considering extending the ban on rice imports until the end of the year as farmgate prices of unmilled rice continue to fall.
“I met with the President last week and we decided to extend the import ban by a minimum of 30 days,” Agriculture Secretary Francisco P. Tiu-Laurel, Jr. told reporters in mixed English and Filipino at the House of Representatives on Monday. “It is possible that it will be extended until the end of the year.”
He said the extension seeks to prop-up plunging farmgate prices of unmilled rice, which had dropped to P8 to P10 per kilo.
Philippine President Ferdinand R. Marcos, Jr., in August announced a 60-day suspension of rice imports starting Sept. 1 to protect Filipino farmers.
Mr. Tiu Laurel said the President would also issue an executive order for the emergency procurement of palay from local producers, as well as the emergency procurement of warehouses to store the rice stocks.
The Philippines is the biggest importer of rice in the world, according to the US Department of Agriculture. It is projected to import about 4.9 million metric tons this year. — Adrian H. Halili